Secured party,

Secured party, with respect to a vessel, means a person -
(1) In whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;
(2) Who is a consignor under State law as prescribed by State law related to security interests in goods; or
(3) Who holds a security interest arising under State law related to security interests in goods.

Source

33 CFR § 187.7


Scoping language

As used in this part -

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